GPT STAFF QUIZZED IN SFO PROBE INTO ALLEGED SAUDI CORRUPTION
The UK SFO confirmed that it made a number of arrests in connection with its probe into GPT Special Project Management Ltd (GPT), a subsidiary of Airbus that supplies communications equipment to the Saudi national guard, that has been ongoing since August 2012. Six individuals, including two current GPT employees and two UK MoD officials, have also been questioned by the SFO. Last year, Airbus said its own parallel investigation into GPT, which it shared with the SFO, showed no evidence of corrupt practice.
MIDEAST EXECS MORE VULNERABLE TO FRAUD - SURVEY
According to Ernst & Young's 2014 Global Fraud Survey, executives in the Middle East are twice as likely to be asked to pay bribes than their global counterparts and receive much less anti-bribery and corruption training. E&Y surveyed 2,719 executives across 59 countries between November 2013 and February 2014. In the Middle East, this included corporate executives from the UAE, Saudi Arabia and Egypt.